In a highly detailed September 1st webinar, management spoke to a long series of accomplishments in a short 14 months and now, the current and rapid forecast revenue rise that reflects the start of flight operations as of early August.
On the heels of receiving certification in early August, Miami based GlobalX took to the air with one aircraft to launch its charter operations. Readers should take note that management stated the fleet will grow to five by January 2022 and at least 10 A320 Family aircraft by the end of that year, not including cargo freighters for which an LOI has been signed for fifteen aircraft.
Please see the below chart, which speaks to management’s revenue forecasts.
We also note the following:
- It is incredibly difficult to find companies listed on the TSX Venture Exchange with this forecast growth profile.
- There are only 46 million shares issued with significant insider ownership.
- Market cap is approximately $125 million based on a stock price in the $2.60 (CDN) range.
- GlobalX owns 25% of charter focused Canada Jetlines (CJ) following its recent spin-out where GlobalX shareholders received one share of CJ for every two shares of GlobalX. CJ expects its first charter flight will take to the air in December. CJ shares are expected to begin trading by early November.
- There are approximately 18 million warrants with an exercise price between $0.39 USD and $1.50 (USD) that upon exercise, would add approximately $19.7 million (USD) to the treasury.
The below slide is a brief summary of all that has been accomplished in just over a year. Not to be missed is the fact that an application will be made in September to uplist to NASDAQ and a program is already well underway to introduce GlobalX to U.S. funds.
We suggest that if the reader wants to gain some perspective on the potential future value of GlobalX over the next couple of years based on its business and growth plan, please spend some time on Sun Country Airlines (SNCY), which has a market cap in the range of $2 billion (USD).
To view the management webinar, please click below.